Marketplace Morning Report for Thursday, February 9, 2012

The Obama administration and almost every state are reportedly ready to settle with the country's largest banks over allegations of abusive foreclosure practices. We check in with the Mayor of Los Angeles on his vision for the city, which is the second largest metro area in the U.S. A new survey out by the Pew Research Center shows that young adults have been hurt the most in the recession. And bankruptcy lawyers are warning that the latest "debt bomb" will come from student loans.

Nearly all the states and the federal government, and five of the nation's largest banks, have reportedly reached a $25 billion settlement over abusive foreclosure practices. Around 750,000 victims of foreclosure fraud will get checks for just about $1,800.

The Obama administration and almost every state have reached a settlement with the country's largest banks over allegations of abusive foreclosure practices. We check in with the Mayor of Los Angeles on his vision for the city, which is the second largest metro area in the U.S. A new survey out by the Pew Research Center shows that young adults have been hurt the most in the recession. And bankruptcy lawyers are warning that the latest "debt bomb" will come from student loans.

Just ahead of another meeting of European finance ministers in Brussels, Greece announces that they have agreed to the austerity cuts that would allow them to receive a much-needed $173 billion bailout.

A new study reports that student debt in this country could be the next “debt bomb," a major economic threat not unlike the mortgage crisis. And this time, there’s no way to get rid of the debt through bankruptcy.